Here is a list of the top countries with the largest gold reserves as of April 2019. Central banks are the main buyers of gold with net purchases of approximately 652 metric tons in 2018. The big central bank buyers were Russia, Turkey, Kazakhstan, India, Hungary, Iraq and Poland. Central bank of Russia and central bank of Turkey bought 274 tons and 52 tons of the yellow metal, respectively. Venezuela is one of the largest sellers of gold. The country’s gold reserves decreased from nearly 370 tons in 2015 to 161 tons in 2019. The United States is the world’s largest holder of gold with 8,133 tons. Germany has the second largest gold reserves. At a price of $1,309 per troy ounce as of April 10, 2019, one metric ton of gold has a value of $42 million. Overall the central banks hold about 34,000 tons of gold.

Rank Country Metric Tons Gold's Share of FX Reserves
1 United States 8,133.5 75%
2 Germany 3,369.7 71%
3 IMF (International Monetary Fund) 2,814.0 n/a
4 Italy 2,451.8 67%
5 France 2,436.0 61%
6 Russia 2,119.3 19%
7 Mainland China 1,864.3 2%
8 Switzerland 1,040.0 6%
9 Japan 765.2 3%
10 Netherlands 612.5 66%
11 India 607.0 6%
12 ECB (European Central Bank) 504.8 28%
13 Taiwan 423.6 4%
14 Portugal 382.5 61%
15 Kazakhstan 353.3 49%
16 Uzbekistan 342.1 53%
17 Saudi Arabia 323.1 3%
18 United Kingdom 310.3 8%
19 Lebanon 286.8 23%
20 Spain 281.6 17%
21 Austria 280.0 50%
22 Turkey6) 261.1 13%
23 Belgium 227.4 35%
24 Philippines 197.9 11%
25 Algeria 173.6 8%
26 Venezuela 161.2 78%
27 Thailand 154.0 3%
28 Poland 128.6 5%
29 Singapore 127.4 2%
30 Sweden 125.7 9%
31 South Africa 125.3 10%
32 Mexico 119.9 3%
33 Libya 116.6 6%
34 Greece 113.1 64%
35 Korea 104.4 1%
36 Romania 103.7 11%
37 Bank for International Settlements 102.0 n/a
38 Iraq 96.3 7%
39 Kuwait 79.0 8%
40 Indonesia 78.5 3%
41 Egypt 78.4 8%
42 Australia 68.7 7%
43 Brazil 67.4 1%
44 Denmark 66.5 4%
45 Pakistan 64.6 21%
46 Argentina 61.7 4%
47 Finland 49.1 20%
48 Belarus4) 47.0 28%
49 Jordan 43.5 12%
50 Bolivia 42.5 20%